It has been a long, confusing summer for the federal budget: The FAA shutdown, the debt ceiling crisis, the Deficit "Supercommittee." But all of that was just prelude to the battles ahead over the 12 major appropriations bills to fund the government's "discretionary" spending.

A study published this year found that stocks purchased by House of Representatives members from 1985 through 2001 "earn[ed] statistically significant positive abnormal returns," outperforming the market by more than six percentage points a year. And senators, it appears, have done even better.

Unless Republicans and Democrats can agree on budget legislation to keep the federal government running, a shutdown at midnight Friday looms. From a political and financial perspective, if that shutdown happens, there will be a few clear winners, some who break even, and a whole lot of losers. DailyFinance breaks it down:

Republicans in the House of Representatives voted Thursday to eliminate the Obama administration's "car czar," as well as the "pay czar" who oversees compensation at companies bailed out with TARP money, and seven other presidential advisers.

After a revolt by unhappy Democrats, the tax bill has finally passed. The Obama tax cut compromise extends Bush-era tax reductions on income, capital gains and dividends through 2012. But there were also some changes. Here's how the tax bill affects you.

About six in 10 Americans approve of a tax package passed by the Senate on Wednesday that extends George W. Bush-era tax breaks for the wealthy as well extending unemployment benefits and cutting payroll taxes, according to a Wall Street Journal/NBC News poll.

The Senate presented the final price tag of $858 billion for President Obama%u2019s tax deal Republican leaders and began debating the package Thursday night.
The Senate aims to vote on the bill Monday, a week after it was first announced, The Wall Street Journal reported. It is expected to clear the Senate, with backers including Senate Majority Leader Harry Reid, who had previously expressed reservations.

While most people support extending at least some of the George W. Bush-era tax cuts due to expire this year, a new Gallup/USA Today survey finds that Americans are deeply divided on which cuts should continue -- and for how long.

Grab a cup of java and listen to this short video of Hilary Kramer, respected investment adviser and editor of GameChangerStocks.com. Now that the elections are over and the Republicans have control of the House of Representatives, Kramer says that trillions of dollars on the balance sheets of corporations will be put to good use. Here's how you can profit.

In testimony before Congress Thursday, Johnson & Johnson's CEO apologized for the problems that have beset his company, including the quality issues with its children's medicines and the "phantom recall" of a batch of Motrin. He also said new batches of its children's medicines should start shipping next week.

China denounced a bill passed by the U.S. House of Representatives that aims to push up the value of the Chinese currency.
The bill, which would let U.S. companies petition for duties on Chinese imports to compensate for the impact of the weak yuan, would hurt the global economy if it became law, the Chinese government said today.

The federal government today passed a bill designed to spur small-business lending by providing financial incentives to banks that make loans to smaller companies, marking a victory for President Barack Obama and his attempt to cut unemployment.

The U.S. Senate passed a bill Thursday designed to spur small-business lending by providing financial incentives to banks that make loans to smaller companies, marking a victory of sorts for an Obama administration attempting to show voters it's addressing the public's concerns about the economy